Five Reasons Businesses Are Going Solar
There’s a reason why Fortune 500 businesses are going solar--it’s a smart investment and more economical than ever. Large companies aren’t the only ones that can benefit from solar power. The following reasons emphasize how solar can benefit any size company.
Maximizing Profits by Saving on Electricity
As the world wide web gets larger, the world seems to get smaller, as computers become a much bigger part of our lives and the backbone of our business. But with the need for more computing power and data centers, comes ever-increasing electric bills. As a matter of fact, electricity is about one-third of an average data center’s operating costs. If your company generates its own power, your energy savings will be huge – as opposed to your energy costs.
Plus, the energy your solar panels pull in will not only power your business, but will allow you to share that power back to the grid, and earn you credit with your local power company.
2. Solar Investment Tax Credit
All eligible businesses are able to offset the price of their commercial solar panels with a federal tax incentive referred to as the Solar Investment Tax Credit (or Solar ITC). Recently, a Solar ITC extension was signed into law that helps companies offset costs, by rewarding you for investing in renewable technology, like solar power. This credit is a percentage of the cost of eligible equipment and is applied to your company’s income tax debt. It benefits companies to start construction as quickly as possible, though, as the Solar ITC begins to drop through the coming years, starting in 2020.
3. Protection against Rising Energy Costs
Utility bills are generally accepted as a non-negotiable expense for most companies – big or small. Solar energy protects your company from fluctuating energy costs but also lessens the impact of inflation, and the rise of energy costs in the future.
4. Solar Panels Are a Smart Investment
At first, it may seem like solar panels are an expense, but when you crunch the numbers and see the payback period is usually about four years, the potential return on investment is undeniable. Considering Power Production Management’s solar systems have a 25-year guarantee, it’s a wise long-term business investment.
5. It Sends the Right Message to Employees and Clients
Going green has become a global trend and one that many people feel passionately about. Employees and clients will appreciate a business that takes an initiative to reduce its carbon footprint.
To see how much your business can save, contact PPM for a free site evaluation at (866) 828-3337.